Brown Brothers Harriman & Co. Buys 148 Shares of Veralto Co. (NYSE:VLTO)

Brown Brothers Harriman & Co. boosted its stake in Veralto Co. (NYSE:VLTO) by 3.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,999 shares of the company’s stock after purchasing an additional 148 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Veralto were worth $407,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. OFI Invest Asset Management bought a new stake in shares of Veralto in the 4th quarter valued at about $26,000. BankPlus Trust Department acquired a new stake in Veralto in the fourth quarter worth $29,000. Albion Financial Group UT boosted its position in shares of Veralto by 2,100.0% during the fourth quarter. Albion Financial Group UT now owns 352 shares of the company’s stock worth $36,000 after purchasing an additional 336 shares in the last quarter. Geneos Wealth Management Inc. acquired a new position in shares of Veralto in the 4th quarter valued at $42,000. Finally, Raleigh Capital Management Inc. increased its position in shares of Veralto by 35.3% in the 4th quarter. Raleigh Capital Management Inc. now owns 418 shares of the company’s stock valued at $43,000 after buying an additional 109 shares in the last quarter. Institutional investors and hedge funds own 91.28% of the company’s stock.

Insider Buying and Selling

In other Veralto news, SVP Surekha Trivedi sold 590 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total transaction of $59,206.50. Following the transaction, the senior vice president now owns 8,470 shares of the company’s stock, valued at $849,964.50. The trade was a 6.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jennifer Honeycutt sold 10,414 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $98.56, for a total value of $1,026,403.84. Following the completion of the sale, the chief executive officer now directly owns 116,637 shares of the company’s stock, valued at approximately $11,495,742.72. The trade was a 8.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,881 shares of company stock worth $2,176,770. Insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on VLTO. Royal Bank of Canada reduced their target price on Veralto from $111.00 to $110.00 and set a “sector perform” rating on the stock in a report on Thursday, February 6th. Stifel Nicolaus lowered their target price on Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Jefferies Financial Group initiated coverage on shares of Veralto in a research note on Thursday, December 12th. They issued a “buy” rating and a $125.00 price target on the stock. Finally, Citigroup dropped their price objective on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock in a report on Monday, January 13th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $113.50.

Veralto Stock Up 1.6 %

Shares of VLTO stock opened at $97.57 on Tuesday. The firm’s fifty day moving average price is $99.37 and its two-hundred day moving average price is $103.85. The company has a current ratio of 1.92, a quick ratio of 1.69 and a debt-to-equity ratio of 1.27. Veralto Co. has a 1 year low of $85.91 and a 1 year high of $115.00. The firm has a market capitalization of $24.15 billion, a P/E ratio of 29.21, a PEG ratio of 4.24 and a beta of 1.11.

Veralto (NYSE:VLTO) last released its earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.05. Veralto had a return on equity of 49.29% and a net margin of 16.04%. On average, equities analysts predict that Veralto Co. will post 3.66 EPS for the current fiscal year.

Veralto Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a $0.11 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.44 annualized dividend and a dividend yield of 0.45%. Veralto’s dividend payout ratio is presently 13.17%.

About Veralto

Veralto Corporation provides water analytics, water treatment, marking and coding, and packaging and color services worldwide. It operates through two segments, Water Quality (WQ) and Product Quality & Innovation (PQI). The WQ segment offers precision instrumentation and water treatment technologies to measure, analyze, and treat water in residential, commercial, municipal, industrial, research, and natural resource applications through the Hach, Trojan Technologies, and ChemTreat brands.